Guideline Value for Srinivasa Pillai salai

Srinivasa Pillai salai guideline value

The current guideline value of Srinivasa Pillai salai is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO, classified as Residential Class II Type - I.

How the guideline value of Srinivasa Pillai salai has changed

The guideline value for Srinivasa Pillai salai has seen significant changes over the years. In 2002, the guideline value was Rs 749 per sq.ft, which increased to Rs 826 per sq.ft in 2003, marking a 10% rise. The value then continued to grow, reaching Rs 1,500 per sq.ft in 2007, an increase of 82%. The next revision in 2012 saw the value drop to Rs 6,500 per sq.ft, a decrease of 333%. However, this was followed by a rise to Rs 4,355 per sq.ft in 2017, which was a 49% increase. The most recent revision in 2023 set the value at Rs 6,500 per sq.ft, which then increased by 9% to the current value of Rs 7,100 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 848%. The register has no figures for the years not mentioned, ensuring that all changes are accounted for.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value is Rs 7,100 per sq.ft, which is the same as the guideline value for Srinivasa Pillai salai.

• Srinivasa Perumal Street: Rs 7,100 per sq.ft (2024)
• Srinivasa Nagar street(Two Hills): Rs 3,900 per sq.ft (2024)
• Srirangam Avenue: Rs 15,000 per sq.ft (2024)
• Stanley Nagar: Rs 2,800 per sq.ft (2024)
• Subbaraya Gramani street: Rs 7,100 per sq.ft (2024)
• Subbarayan 2nd lane: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Pillai salai

For a 1,000 sq.ft plot at the current rate of Rs 7,100 per sq.ft, the guideline value is Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, totaling Rs 6,39,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Srinivasa Pillai salai?

The Sub Registrar Office covering Srinivasa Pillai salai is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Egmore

The guideline value is a crucial factor in property transactions in Egmore. It determines the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees. Buyers and sellers must consider this value to avoid any legal issues during the registration process.

When purchasing property, the guideline value helps in assessing the fair value of the property. It acts as a benchmark, ensuring that transactions are conducted transparently and in accordance with local regulations.

Frequently asked questions

What is the current guideline value of Srinivasa Pillai salai?

The current guideline value of Srinivasa Pillai salai is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 749 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, marking an overall increase of 848% over the years.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000 and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000.

Which office handles property registrations for Srinivasa Pillai salai?

The Periamet Sub Registrar Office handles property registrations for Srinivasa Pillai salai, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the guideline value determined for properties in Egmore?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and historical data from previous revisions. It is used to ensure fair registration practices in the area.